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E-Malt.com Newsletter 25a
June 17 - June 19, 2024
Quote of the Week
It is a rough road that leads to the heights of greatness.
Lucius Annaeus Seneca
Currency Rates
Base Currency: US Dollar
on June 19, 2024 |
Base Currency: Canadian Dollar
on June 19, 2024 |
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1 USD = 0.9318 EUR
1 USD = 0.7875 GBP
1 USD = 1.3729 CAD
1 USD = 1.5076 AUD
1 USD = 157.8440 JPY
1 USD = 5.4205 BRL
1 USD = 86.9683 RUB
1 USD = 7.2528 CNY
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1 CAD = 0.7283 USD
1 CAD = 0.5735 GBP
1 CAD = 0.6786 EUR
1 CAD = 1.0980 AUD
1 CAD = 114.9590 JPY
1 CAD = 3.9478 BRL
1 CAD = 63.3394 RUB
1 CAD = 5.2822 CNY
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Currency Rates Chart
Equities of the Largest Breweries
USA: Hop acreage strung for harvest down 18% this year
...Click here
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USA, NC: North South Brewing opening in downtown Fayetteville
...Click here
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Canada: Government invests over C$5 mln to create more resilient barley varieties
...Click here
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USA, GA: Round Trip Brewing Co. opens its second location to the public
...Click here
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USA, PA: Cool Daddy Brewing Inc. opens as the only brewery between Greensburg and West Newton
...Click here
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USA, CO: South Park Brewing already open in Colorado Springs
...Click here
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USA, WA: Copperworks Distilling taking over Pike Brewing’s brewhouse
...Click here
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USA, CA: Athletic Brewing takes over Ballast Point Brewing’s headquarters in San Diego
...Click here
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USA, GA: Savannah’s Moon River Brewing Company closes for good
...Click here
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USA, OR: Cascade Brewing Company shutters all operations – likely permanently
...Click here
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The Czech Republic: Beer consumption at its lowest since 1963
...Click here
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Finland: Finland’s alcohol consumption continues to decline, beer retains highest market share
...Click here
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Vietnam: ThaiBev collects $416 mln in dividends from Sabeco over 7 years
...Click here
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Germany: Germany overcomes the US to become the world’s top hops producer again
...Click here
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Nigeria: Guinness Nigeria says not exiting the Nigerian market
...Click here
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World: Diageo prices €500 million of floating rate euro-denominated bonds
...Click here
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Russia: Barley exports forecast remains unchanged at 4.3 mln tonnes
...Click here
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Belgium: Trappist Westmalle brewery to open to the public for the first time in September
...Click here
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Ukraine: Barley harvest forecast at around 5 mln tonnes this year, exports at 2.5 mln
...Click here
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India & Japan: Craft beer maker Bira 91 raises $25 mln from investor Kirin Holdings
...Click here
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France & Belgium: French beer gaining popularity in Belgium
...Click here
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Graph of the Week
Table of the Week
Wold Hop Production and Percent Share 2019 - 2023
Prices Evolution
Barley Prices
Theoretical Malt Prices
These Days in Business History
17 June
1885 - Statue of Liberty arrived in New York City
1970 - Edwin Land patents Polaroid camera
1988 - Microsoft releases MS DOS 4.0
18 June
1840 - Samuel Morse patents his telegraph
1943 - Congress of Racial Equality (CORE) founded
1948 - .N. Commission on Human Rights adopts International Declaration of Human Rights
2009 - The Lunar Reconnaissance Orbiter (LRO), a NASA robotic spacecraft is launched
19 June
1464 - French King Louis XI forms postal service
1764 - John Barrow is born, founder of Royal Geographical Society
1963 - 1st woman in space returns to Earth
Agenda
August 2024:
08 - 10: VIETFOOD & BEVERAGE - VIETNAM 2024 (Saigon Exhibitions and Conventions Center, 799 Nguyen Van Linh Street, District 7, HoChiMinh City, Vietnam)
17 - 20: World Brewing Congress 2024 (Minneapolis, Minnesota)
23 - 24: Beervana 2024 (Wellington, New Zealand)
September 2024:
02 - 04: 14th Iberoamerican VLB Symposium Brewing & Filling Technology (IBS) (Ciudad de Mexico (CDMX), Mexico)
12 - 14: Stockholm Beer & Whisky Festival 2024 (Stockholm, Sweden)
14 - 15: Bruges Beer Festival 2024 (Bruges, Belgium)
21 - 06 October: Oktoberfest 2024 (Munich, Germany)
28 - 30: Whisky Live Paris 2024 (Paris, France)
October 2024:
03 - 04: Brew Asia 2024 (Suntec Convention & Exhibition Centre, Singapore)
23 - 25: Drink Technology India 2024 (Bombay Exhibition Centre, Mumbai, India)
28 - 31: China Brew 2024 China Beverage 2024 (Shanghai, China)
November 2024:
22 - 22: Drink Japan 2024 (Makuhari Messe, Japan)
26 - 28: Brau Beviale 2024 (Nuremberg, Germany)
February 2025:
06 - 07: Glug Swiss 2025 (Alte Reithalle, Aarau, Switzerland)
07 - 10: HoReCa 2025 (Athens, Greece)
16 - 18: BBTech Expo 2025 (Rimini, Italy)
21 - 23: Finest Spirits 2025 (Munich, Germany)
March 2025:
03 - 07: IBD Asia Pacific Convention 2025 (Hobart, Tasmania)
12 - 15: Festival Brasileiro da Cerveja 2025 (Blumenau, Brazil)
19 - 20: BeerX 2025 (Liverpool, UK)
April 2025:
06 - 09: 15th International Trends in Brewing 'Beer & Society' 2025 (Leuven, Belgium)
10 - 12: KIBEX 2025 (Seoul, South Korea)
News Articles
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USA: Hop acreage strung for harvest down 18% this year
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United States hop acreage strung for harvest in 2024 is down 18 percent from 2023, according to a report issued by the United States
...More info on site
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USA, NC: North South Brewing opening in downtown Fayetteville
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A new brewery and taproom, offering beers brewed in-house, is opening in downtown Fayetteville, The Fayetteville Observer reported on June 17.
James Orlando, co-owner and president of North South Brewing, said that their production space is ready to go as their team begins brewing their signature beers for opening day. He owns the brewery with his wife, Alicia. Currently, renovations are taking place to convert the wide, open space to a taproom area at 304 Williams St., which is the former Bright Light Brewing Company Brewhouse.
With just under an acre of land in addition to the taproom, Orlando plans to maximize his new real estate for parking and hosting large outdoor events. He said that among the improvements will be a bar; some half walls; an elevated seating area with a couch and comfortable chairs; an indoor corn hole area with AstroTurf; new garage doors that will enable customers to see into the brewing area; an outside seating area; and a private room — all which can be rented out for events.
"We’re projected to be open to the public around October - November," he said via email Tuesday. "There’s no official opening date yet, but we are planning to have a
...More info on site
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Canada: Government invests over C$5 mln to create more resilient barley varieties
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The federal government has invested over C$5 million into the barley sector, aimed at creating more resilient varieties that can handle climate change, Canadian Cattlemen reported on June 13.
Federal Agriculture and Agri-Food Minister Lawrence MacAulay on June 12 announced C$5,257,073 earmarked for the Canadian Barley Research Coalition. The funding echoes similar announcements for research clusters dedicated to commodities like canola and pulses.
Government says more resilient and sustainable barley will help Canadian growers remain competitive in world markets.
“Our hardworking barley producers provide top-quality grain to so many industries, from the livestock sector to the Canadian brewing industry,” MacAulay said in a press release.
“This vitally important research will help producers incorporate climate-resilient barely crops into their operations and increase the profitability and sustainability of their farms.”
The investment will also support sustainable economic growth in Saskatchewan and Alberta, which are big barley producing provinces, said Dan Vandal, federal minister for Prairies Economic Development Canada.
“The project aims to respond to climate change in ways that spur economic development and is an example of how the Framework for a Green Prairie Economy moves us closer to our goal of creating a stronger, sustainable economic future together,” Vandal said.
Cody Glenn, chair of the Canadian Barley Research
...More info on site
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USA, GA: Round Trip Brewing Co. opens its second location to the public
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Nearly a year after announcing a second location at Avenue East Cobb in Marietta, Round Trip Brewing Co. has opened to the public, the East Cobb News reported.
An official grand opening party took place on Saturday, June 8.
“We’re stoked to be expanding into East Cobb and to serve our German-style beer for the East Cobb community,” Craig Mycoskie, CEO and head brewer at Round Trip said.
“We’ve built this brewery as a communal space in the spirit of a Bavarian beer hall with the idea that people will interact, have fun, and build meaningful relationships over delicious craft beer.”
Co-owner Amy Mycoskie, Round Trip’s director of hospitality, said there will be a Pilsener Patio Party on July 27, as well as Oktoberfest from Sept. 21-29 and other special events to be announced. Round Trip also is available for private events and those can be booked on the restaurant website, with special deals through October.
Round Trip opened in Midtown Atlanta in February 2021, and the brewery distributes three beers through Savannah Distributing all year long – Straight Outta Munich, Instant Krüsch, and Vicarious – as well as seasonally available options, including Oktoberfest Märzen starting in July.
Hours are Monday-Thursday 11am-9pm, Friday and Saturday 11am-10pm,
...More info on site
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USA, PA: Cool Daddy Brewing Inc. opens as the only brewery between Greensburg and West Newton
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A longtime home brewer in New Stanton is taking the plunge into the beer business and opening a brewery in the borough, the only one between Greensburg and West Newton, the Trib Live reported on June 15.
“This has always been my dream. I had a five-gallon batch system in my kitchen, then a 20-gallon system in my garage,” providing family and friends with the home brew, said Todd Bartlow, who with his wife, Joy, is opening Cool Daddy Brewing Inc. on June 15 in a storefront along Bridge Street in New Stanton.
Joy Bartlow, listed as the brewery’s manager on LCB records, explained that her husband, who teaches a powerline course at Central Westmoreland Career and Technology Center in New Stanton, had been talking for years about wanting to open a brewery to sell the beer he has been brewing for 27 years.
“We either do it or don’t talk about it,” is what Joy Bartlow, a teaching assistant at Central Westmoreland CTC, said she told her husband.
They started planning in earnest about 18 months ago, Bartlow said he searched for a discounted fermenter, boiling kettle and mashtun to buy to brew his product for a seven- barrel system, a journey which
...More info on site
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USA, CO: South Park Brewing already open in Colorado Springs
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A brewery that has spent the last decade serving brews and food to the small mountain community of Fairplay is making its new home on the west side of Colorado Springs, KRDO reported on June 14.
The name may already sound familiar, South Park Brewing's beers can be found at numerous liquor stores around Southern Colorado.
The brewery, which celebrated its grand opening last weekend, is now located at 2028 Sheldon Avenue off 21st Street, in the former location of the Smiling Toad Brewery.
The location will offer some of the brewery's staples, such as their S'mores Stout or Guava Sour, along with a brand new food menu. Food will be served out of an on-site food truck, operating as the location's kitchen.
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USA, WA: Copperworks Distilling taking over Pike Brewing’s brewhouse
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When Pike Brewing opened 35 years ago, Jason Parker was the first brewer that co-founders Charles and Rose Ann Finkel hired. Many other brewers have stirred the mash at Pike Brewing over the years, but Jason was the first. Many years later, Jason Parker was one of the co-founders of Copperworks Distilling. And after decades of professional brewing and distilling, Jason Parker now has the opportunity to bring his brewing story full circle, with Copperworks acquiring the Pike Brewing brewhouse on Post Alley in Seattle, The Washington Beer Blog reported on June 18.
Several months ago, Pike Brewing stopped brewing at its familiar location at the Pike Place Market. The company opened a new, state-of-the-art brewery a few miles south in the Georgetown neighborhood near the Duwamish River — production only, no tasting room. The Pike Pub remains open, but the beer is no longer brewed at the Pike Place location. The brewery has been sitting unused for months.
Copperworks Distilling takes a brewer’s approach to crafting its spirits. It begins by crafting a high-quality beer without hops from a base of locally grown malted barley. For the past ten years, Copperworks partnered with local breweries (including Pike Brewing) for this part
...More info on site
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USA, CA: Athletic Brewing takes over Ballast Point Brewing’s headquarters in San Diego
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The largest producer of non-alcoholic beer in the United States, Athletic Brewing, has taken over Ballast Point Brewing’s headquarters in San Diego, the Washington Beer Blog reported on June 14.
The 107,000-square-foot facility is the largest production brewery in San Diego County.
According to the San Diego Beer News, rumors have circulated for weeks. The deal is now official and Athletic is taking over the facility; however, it is not acquiring Ballast Point Brewing, which is owned by Illinois-based Kings and Convicts.
The deal will see Athletic Brewing take over the facility’s 300-barrel and 150-barrel brewhouses, cellar, packaging line, QA lab, and business offices. The bar and restaurant part of the business will continue to operate as a Ballast Point venue for at least the next 18 months, the San Diego Beer News reports. That will be the extent of Ballast Point’s presence at the facility.
Reportedly, Ballast Point’s beers will be brewed on a contract basis by an undisclosed brewing partner. One thing is clear, that partner is not Athletic Brewing, which says it intends to spend the next 18 months updating and converting the facility into a state-of-the-art NA brewing facility.
In 2015, Ballast Point Brewing was famously purchased
...More info on site
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USA, GA: Savannah’s Moon River Brewing Company closes for good
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An iconic Savannah restaurant and bar closed its doors on June 16, WSAV-TV reported.
Moon River Brewing Company has been a stable for locals and visitors for 25 years.
Moon River opened its doors on April 10, 1999, and just recently celebrated its 25th anniversary.
However, the business, located on Bay Street, announced the closure on their Facebook page last week.
The business owner has not yet released the reason for the closure or if they have plans of relocating.
Their doors closed for good at 10 p.m. Sunday, June 16th.
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USA, OR: Cascade Brewing Company shutters all operations – likely permanently
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The “House of Sour” has poured their last Northwest Sour beer. The 25-year-old Cascade Brewing Company has officially shuttered, ceasing all operations on Monday, June 17th. A note on their website says that Cascade Brewing is temporarily closed, but it seems likely to be permanent, New School Beer reported.
Founded by the legendary Art Larrance in 1998, it started as a popular brewpub called The Raccoon Lodge and became a popular house beer brand for dive bars and restaurants all over the city before brewmaster Ron Gansberg created the “Northwest Sour.” Gansberg and Larrance arguably introduced America to sour beer and did more than anyone outside of Belgium to popularize it. Gansberg also deserves credit for helping revive and showcase fruit in beer, demonstrating an incredible acumen for pulling the most character out of real fresh fruit and sourcing only the best. They were also at the forefront of blending, thanks to Gansberg and longtime manager and head blender Preston Weesner, who traveled the world blowing people’s minds with their innovative flavor profiles and showing blending as an art unto itself.
Cascade was famed for beers like Vlad the Impaler, Glueh Krie, Bourbonic Plague (GABF gold medal winner in 2009).
...More info on site
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The Czech Republic: Beer consumption at its lowest since 1963
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Last year, the average Czech drank 256 beers, the lowest number since 1963, Prague Morning reported on June 16.
Despite being the highest in the
...More info on site
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Finland: Finland’s alcohol consumption continues to decline, beer retains highest market share
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Alcohol consumption in Finland continued to decline in 2023, according to latest statistics from the Finnish Institute for Health and Welfare (THL), Yle reported
...More info on site
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Vietnam: ThaiBev collects $416 mln in dividends from Sabeco over 7 years
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Vietnam Beverage, wholly owned by Thai Beverage, has raked in a combined VND10.6 trillion ($416.4 million at the current rate) worth of dividends from
...More info on site
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Germany: Germany overcomes the US to become the world’s top hops producer again
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Germany is once again the world's top hops producer - snatching the title from the United States after nine years, the German Hops Growers
...More info on site
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Nigeria: Guinness Nigeria says not exiting the Nigerian market
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Guinness Nigeria Plc has debunked insinuations that it is exiting the Nigerian market following the sale of the majority shareholding by Diageo, a British
...More info on site
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Australia: Malting barley export surge in April
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Australia exported 696,540 tonnes of barley and 149,744t of sorghum in April, according to the latest data from the Australian Bureau of Statistics.
Feed barley exports for the month totalled 317,836t, down 19 percent from the 390,828t shipped in March.
China on 236,881t was the biggest buyer of April-shipped feed barley, followed by Japan on 72,989t and Thailand on 2852t.
Malting volumes at 378,704t surprised in April be exceeding the feed barley figure, and by surging 61pc from the 235,887t shipped in March.
China on 240,274t was the biggest market for malting exports, with The Netherlands making a rare appearance in second place with a 69,995t cargo, and Mexico on 33,000t in third place.
Continuing the trend, China on 146,041t was the destination for almost all April sorghum exports, with Taiwan on 2215t in second place, and The Philippines on 1296t in third.
Flexi Grain pool manager Sam Roache said China has been the most active current buyer in the July-August period on new business as Australia’s barley stocks run down to record tight levels.
“While China remains the dominant buyer, their export share does remain a little below expectations, meaning that Australia is continuing to hold on to a more diverse range of buyers that we
...More info on site
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World: Diageo prices €500 million of floating rate euro-denominated bonds
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Diageo, a global leader in beverage alcohol, said on June 17 it priced €500 million of floating rate euro-denominated bonds under its European Debt Issuance Programme. The issuer will be Diageo Finance plc, and the payment of principal and interest will be fully guaranteed by Diageo plc.
The drawdown will consist of the issue of €500 million floating rate bonds due June 2026. Proceeds from the issuance will be used for general corporate purposes. HSBC has been appointed as sole lead manager.
Relevant stabilisation regulations including FCA/ICMA apply. Manufacturer target market (EU MIFID II and UK MiFIR product governance) is eligible counterparties and professional clients only (all distribution channels). No EU PRIIPS or UK PRIIPs key information document ("KID") has been prepared as the securities will not be available to retail in EEA or the UK.
The bonds are being offered and sold pursuant to an exemption from the registration requirements of the U.S. Securities Act, outside the United States in offshore transactions, in reliance on, and in compliance with Regulation S under the U.S. Securities Act. This announcement has been prepared for use in connection with the offer and sale of the bonds and does not constitute an offer to any person
...More info on site
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Russia: Barley exports forecast remains unchanged at 4.3 mln tonnes
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On June 14, the Russian Union of Grain Exporters, which began publishing consensus forecasts for this year's grain harvest and exports in 2024/25 MY on May 17, lowered its estimate of wheat exports from Russia in the new season by 14.7% compared to the previous month, to 40 mln tonnes, Interfax reports.
As specified, the estimate of corn exports decreased by 5.7%, to 5 mln tonnes, barley exports remained unchanged at 4.3 mln tonnes. The consensus forecast for total grain exports is 53.5 mln tonnes, down 9.5% from a month ago.
The gross harvest of Russian grain in 2024 is forecast at 125.1 mln tonnes (down 7% from May), including 79.3 mln tonnes of wheat (down 8.6%), 18.6 mln tonnes of barley (down 3.6%), and 14.9 mln tonnes of corn (down 2.6%).
According to Eduard Zernin, the Union's chairman of the board, both harvest and export forecasts continued to decline as the harvesting campaign progressed.
"We count the deviations from the first consensus forecast, as it is important for us to assess the effect of unfavorable natural phenomena - frost and drought - on the harvest," he said.
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Belgium: Trappist Westmalle brewery to open to the public for the first time in September
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For the first time in its history, the Westmalle Trappist brewery will open its doors to the public for two days in September. The announcement was made in a press statement released by Westmalle Abbey’s Trappist community on June 17.
The Trappists began brewing beer at the abbey in the Kempen area of Antwerp Province in 1836. The brewery is located within the abbey walls and as such the beers brewed are authentic Trappist beers. Four other abbeys in Belgium Westvleteren, Rochefort, Chimay and Orval) also produce Trappist beer.
Over the years many local people and fans of Trappist beers from all over the world have asked to visit the brewery. However, up until now these requests have always been declined. On Monday though the monks finally gave in. Around 1,500 people are expected to visit the brewery on Wednesday 25 and Thursday 26 September, between 8.30am and 3.30pm.
Reservations for a ticket to visit the brewery open on Wednesday 19 June and they can be made online.
Each visitor will have to pay 12.50 euro and part of the proceeds will be donated to the not-for-profit group Coda that is active in palliative care. Coda is one of the groups supported by the
...More info on site
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Ukraine: Barley harvest forecast at around 5 mln tonnes this year, exports at 2.5 mln
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Ukraine could export over 60 million tonnes of grains and oilseeds and their processed products during the 2024-2025 agricultural year (July-June), Ukrainian media reported citing a statement from the Ministry of Agrarian Policy.
The ministry's forecast for this season has Ukraine harvesting approximately 56 million tonnes of grain, including 21 million tonnes of wheat, 5 million tonnes of barley, and 28.5 million tonnes of corn.
Grain exports are projected at 43 million tonnes, notably, 15 million tonnes of wheat, 2.5 million tonnes of barley and about 25 million tonnes of corn.
The ministry expects an oilseed harvest of 22 million tonnes, with rapeseed reaching 4 million tonnes, and sunflower 13 million tonnes. The soybean harvest is planned at 5 million tonnes, which would be a record.
Exports of oilseeds and their processed products are expected to top 17 million tonnes.
The press service of Ukraine's Ministry of Agrarian Policy, citing data from the State Customs Service, reported earlier that as of May 24, from the beginning of the 2023/2024 agricultural year (July-June), Ukraine had exported 45.402 million tonnes of grains and legumes.
Exports during the period included 16.949 million tonnes of wheat, 2.363 million tonnes of barley, 1,400 tonnes of rye, and 25.563 million tonnes of
...More info on site
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India & Japan: Craft beer maker Bira 91 raises $25 mln from investor Kirin Holdings
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Craft beer maker Bira 91 has raised $25 million in funding through External Commercial Borrowing (ECB) from its existing investor Kirin Holdings, Indian Startup News reported on June 18.
The funding marks the conclusion of a larger $50 million round that the company has been pursuing over the past three months. The latest tranche follows a previous $25 million investment from Tiger Pacific Capital in March.
The board at Bira has passed a resolution to raise $25 million via ECB (external commercial borrowings) from Kirin Holdings in two tranches of $12.5 million each, Entrackr reported citing the regulatory filing accessed from the Registrar of Companies.
Kirin Holdings has the option to convert this ECB into Series D Compulsorily Convertible Preference Shares (CCPS) at a later date. This structure offers flexibility for Kirin Holdings while providing immediate capital for Bira 91.
The recent $25 million investment by Kirin Holdings, combined with the earlier $25 million from Tiger Pacific Capital, brings Bira 91's total funds raised in the past three months to $50 million.
This infusion values the company at approximately $625 million, based on the latest investment from Tiger Pacific Capital. Bira 91 has now amassed around $350 million in total funding to date,
...More info on site
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France & Belgium: French beer gaining popularity in Belgium
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Over the last ten years, French brewers have been increasing production as their beers have become more popular, Euronews.com reported on June 18.
Brewers in France are taking on traditionally beer-producing nations as French beer becomes more popular.
Over the last ten years, French brewers have increased production due to growing sales in Belgium. This is especially true for some breweries located along the border.
In the beer section of a Belgian hypermarket, one bottle stands out from the crowd.
The beer is produced at the Baron Brewery in Gussignies, France, just a few kilometres from the border with Belgium. The brewers there learned their skills in Belgium before developing them in France.
Now, these French beers can be found on the shelves alongside their Belgian counterparts. Several tens of thousands of bottles leave the Baron Brewery each year, 10% of which are destined for Belgium.
One supermarket customer explained he drinks this French beer because 'its taste is different' from what he can find in Belgium.
But the sales director at Saint-Feuillien Brewery near Mons insists Belgian beer is expanding in France as well: "50% of our production goes abroad, three-quarters of which goes to France. In certain regions, the French are still discovering beer, previously
...More info on site
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